Tri-Continental (NYSE:TY) Sees Unusually-High Trading Volume

Tri-Continental Co. (NYSE:TYGet Free Report) saw an uptick in trading volume on Tuesday . 16,388 shares changed hands during mid-day trading, a decline of 55% from the previous session’s volume of 36,661 shares.The stock last traded at $30.98 and had previously closed at $30.82.

Tri-Continental Price Performance

The firm has a fifty day simple moving average of $30.27 and a two-hundred day simple moving average of $29.58.

Tri-Continental Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Monday, June 10th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.16 annualized dividend and a yield of 3.76%. This is a positive change from Tri-Continental’s previous quarterly dividend of $0.26.

Institutional Investors Weigh In On Tri-Continental

Hedge funds have recently added to or reduced their stakes in the stock. Cetera Advisors LLC grew its position in Tri-Continental by 105.3% in the 1st quarter. Cetera Advisors LLC now owns 16,868 shares of the investment management company’s stock worth $520,000 after purchasing an additional 8,653 shares during the period. Cornerstone Advisors LLC grew its holdings in shares of Tri-Continental by 63.7% in the first quarter. Cornerstone Advisors LLC now owns 141,736 shares of the investment management company’s stock worth $4,365,000 after acquiring an additional 55,141 shares during the period. Motco bought a new position in Tri-Continental in the first quarter valued at about $108,000. Heritage Wealth Advisors lifted its holdings in Tri-Continental by 102.0% in the first quarter. Heritage Wealth Advisors now owns 42,785 shares of the investment management company’s stock valued at $1,318,000 after acquiring an additional 21,602 shares during the period. Finally, NorthRock Partners LLC bought a new stake in shares of Tri-Continental during the 1st quarter valued at about $369,000. 10.22% of the stock is owned by institutional investors.

Tri-Continental Company Profile

(Get Free Report)

Tri-Continental Corporation is a closed ended equity mutual fund launched and managed by Columbia Management Investment Advisers, LLC. It primarily invests in the public equity markets of the United States. The fund invests in stocks of companies that operate across diversified sectors. It seeks to invest in stocks of large-cap companies.

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